Honorable René Oliveira, Chair, House Committee on Business & Industry
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3434 by Parker (Relating to the definition of "person" under the Uniform Commercial Code.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Business and Commerce Code by clarifying certain definitions.
The Secretary of State indicates the provisions of the bill could be implemented within existing resources.
The bill would take effect immediately upon receiving a two-thirds majority vote in each house. Otherwise, the bill would take effect September 1, 2015.
Local Government Impact
Because the bill would not have statewide impact on units of local government of the same type or class, no comment from this office is required by the rules of the House/Senate as to its probable fiscal implication on units of local government.